Long-Term Care Self Insurance  

Nobody wants to think about the possibility of needing long-term care. But if, somewhere down the line, you and/or your spouse do need assistance, will you have the funds available to pay for care? How much will an extended stay in a nursing facility or care received in your own home cost? Will you be able to meet this cost and still pay your and/or your spouse’s personal living expenses? Will there be enough left over to provide an inheritance for your loved ones or your favorite charity? Does it make sense to self-insure when private long-term care coverage is available? This calculator will assist you in answering these questions.

     

What is your current age?

At what age do you want to assume that you begin to use long-term-care services?

What inflation rate for long-term-care services do you wish to assume?

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What is the current daily cost of a nursing/long-term care facility in your area?
(The current average daily nursing home cost nationwide is $213 according to the 2012 Field Guide, National Underwriter, but in some areas of the country, and/or for a private room at a high-quality facility, the daily amount can easily exceed $300.)

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Innovative Benefits Consulting, Inc.
One Gateway Center, Suite 725 • Pittsburgh, PA • 15222
Phone:
412-745-2400		 • Fax:
412-745-2401
•
ibc@innoben.com

 

Securities offered through Registered Representatives of NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Investment Advisory Services offered through Investment Advisory Representatives of NFPSI. Innovative Benefits Consulting  is a member of PartnersFinancial, an affiliate of NFPSI. Innovative Benefits Consulting and NFPSI are not affiliated.

NFPSI does not provide tax or legal advice.  Any decisions whether to implement these ideasshould be made by the client in consultation with professional financial, tax, and legal counsel.

This site is published for residents of the United States only.  Registered Representatives and Investment Advisor Representatives of NFPSI may only conduct business with residents of the states and jurisdictions in which they are properly registered.  Therefore, a response to a request for information may be delayed.  Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.  For additional information, please contact the NFPSI Compliance Department at 512-697-6000.